Amazon just raised the price of Prime. It's about time

Will Amazon's winning streak continue?

Amazon raising price of annual Prime membership

Amazon net sales were $35.7 billion in the same quarter in 2017.

With six tweets three weeks ago, President Donald Trump threatened numerous massive gains Amazon has enjoyed throughout its 24-year history. Analysts were expecting $1.27 a share.

Amazon said its operating cash flow increased 4 percent to 18.2 billion dollars for the trailing 12 months, compared with 17.5 billion dollars for the same period of past year.

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Amazon's shares soared over 6 percent in after-hours trading, following a substantial earnings beat and a forecast for current-quarter growth that would defy all expectations. But the price increase is only for USA members, so it's probably closer to $1.6 billion or so. The program, initially available to Prime members in 37 cities, is the latest effort by the Seattle-based company to make it easier for customers to receive online orders.

The company has also found success with its own streaming music and movie services, one of the perks of its Amazon Prime, which the company says now has 100 million members.

The company has been on a roll this year.

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New Prime members in the USA will be charged the higher price starting May 11. In the first three months, its North American net sales rose 46% compared to the first quarter of 2017. The company said it has 100 million Prime members, though it did not break out how many of those people view videos on its platform. That added $4.2 billion in revenue.

Getting the deal would help the company cement its top spot in United States cloud services - boosting its highly profitable cloud business - and give it an advantage in future government cloud contracts.

The company announced the price increase Thursday on its first quarter earnings conference call, saying the increase is due to the service's overall rising costs. "That's why you're seeing this remarkable acceleration in AWS growth, now for two quarters in a row", CEO Jeff Bezos said in a statement.

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Amazon continues to invest in a wide array of areas.

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